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rebound and former president bill clinton hitting the links. this is a photo from last year. what we don't know what was said teen them this year my guest homes the former president was critiquing more than just his successor's swing. art laffer was the top reagan economic adviser and you voted twice for bill clinton because his prosecutor mix of taxes. explain that? >>guest: yes i sure did. but for the raise hikes at top end, he cut taxes on the working people between ages of 65 and 72. he cut taxes on trade and products. he cut government spending as a share g.d.p. dramatically and he cut the capital gains tax rate and butt in welfare reform. what do you want from a president that bill clinton did not deliver? he was a great president. >>neil: the investment taxes was that concurrent with what was going on in the income tax hike front? >>guest: no. it was not. the capital gains tax reduction which he dropped the high of the race from 28 percent to 20 percent but what he really did that was amazing, he exempted owner occupied homes from ever paying capital gains taxes again,
rebound and former president bill clinton hitting the links. this is a photo from last year. what we don't know what was said teen them this year my guest homes the former president was critiquing more than just his successor's swing. art laffer was the top reagan economic adviser and you voted twice for bill clinton because his prosecutor mix of taxes. explain that? >>guest: yes i sure did. but for the raise hikes at top end, he cut taxes on the working people between ages of 65 and 72....
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, that bill that would pass the 98% automatically raise the rates to the clinton era for the top 2%. ultimately he has to bring out the best deal. this new negotiation strategy. it appears to have genuinely thrown republicans for a loop. >> the idea of a negotiation is roll over and do what i ask. >> i think we're going over the cliff. it's pretty clear to me they made a political calculation. the plan to entitlement reform is quite frankly a joke. >> a two-step deal in place. step one spending cuts and tax changes that would take effect in january. step two, which the white house wants to be wrapped up in august would be long er term entitlemet changes and tax reform. the problem is neither side wants to own entitle lments. if entitlements are going to be on table, the gop will have to own that plan. mitch mcconnell laid out an opening gop offer friday including inkraesing the medicare eligibility age, higher premiums for the wealthy and slowing cost of living increases. some seem open to means testing on medicare. >> more aggressive planes testing, higher co-pays for those who can
, that bill that would pass the 98% automatically raise the rates to the clinton era for the top 2%. ultimately he has to bring out the best deal. this new negotiation strategy. it appears to have genuinely thrown republicans for a loop. >> the idea of a negotiation is roll over and do what i ask. >> i think we're going over the cliff. it's pretty clear to me they made a political calculation. the plan to entitlement reform is quite frankly a joke. >> a two-step deal in place....
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do not forget that bill clinton did welfare reform. one of the most historic acts over the last 50 years. do not forget that we caught government spending within those years. the problem with obama's proposals is he wants more. this idea that raising tax rates does not hurt the economy because, you can go ahead and spoke three packs of cigarettes a day for the rest of your life because i know somebody who did that and he did not get cancer. stuart: okay. that was very good. [ laughter ] now, i know why you have not been on the show very often. i am at a loss for words when you are done. stephen moore, i do hope you come back and see us soon. >> thank you, sir. stuart: here is an example of what i call tax hypocrisy. costco founder going to save because of the dividend payment this year. not next year, this year. the ceo, he is a very big obama supporter. even spoke at the democratic convention. >> a president who understands what the private sector needs to succeed. a president who takes the long view and makes the tough decisions. tha
do not forget that bill clinton did welfare reform. one of the most historic acts over the last 50 years. do not forget that we caught government spending within those years. the problem with obama's proposals is he wants more. this idea that raising tax rates does not hurt the economy because, you can go ahead and spoke three packs of cigarettes a day for the rest of your life because i know somebody who did that and he did not get cancer. stuart: okay. that was very good. [ laughter ] now, i...
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clinton, floated a similar plan last year. in embracing it, republicans are claiming bipartisan ship, and it's now up to the white house to respond. back to you. >> getting very interesting. thank you very much, rich edson. david: thanks, rich. well, washington doesn't seem to be get withing close to a debt deal, but one top investor believes they actually will get it cone and are get -- done and are getting close to it. bob doll joining us with his investing strategies. >> former lehman brothers' vice president larry mcconald who's now with new edge also believes a deal will be reached, but what will it be, and who ends up on the winning end? find out what he thinks next. ♪ david: while the president is tweeting his short answers about coming tax increases, wall street's holding its collective breath with the rest of the world for some kind of resolution to the fiscal stalemate in d.c. trillions of dollars hang in the balance not just in government revenue, but also in nonallocated cash. it's just been sitting on the sideli
clinton, floated a similar plan last year. in embracing it, republicans are claiming bipartisan ship, and it's now up to the white house to respond. back to you. >> getting very interesting. thank you very much, rich edson. david: thanks, rich. well, washington doesn't seem to be get withing close to a debt deal, but one top investor believes they actually will get it cone and are get -- done and are getting close to it. bob doll joining us with his investing strategies. >> former...
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it's not a coincidence that the president was golfing with bill clinton this sudden. that is as much the president likes golf as much as an effort to say, here i am with the great dealmaker, the reasonable guy that everybody likes, regardless of whether clinton's actually giving him any advice on this although i'm sure he is. >> if you look back to the health care debate obama tried to appear reasonable last time and that didn't work well for him. what he's doing now is all the things he didn't do last time. starting with the unreasonable position, with what he wants rather than what he thinks he'll get which is a better bargaining position. he's going out and trying to get people to pick up the phone, take up, you know, twitter and facebook and tell congress we want to get this done. so he's doing a lot of the things from a negotiating standpoint that he didn't do last it time around, while still, you know, kind of queuing up the blame game as both sides are doing to make sure that other guy takes the fall if it doesn't work. >> and i think to eric's point, this is w
it's not a coincidence that the president was golfing with bill clinton this sudden. that is as much the president likes golf as much as an effort to say, here i am with the great dealmaker, the reasonable guy that everybody likes, regardless of whether clinton's actually giving him any advice on this although i'm sure he is. >> if you look back to the health care debate obama tried to appear reasonable last time and that didn't work well for him. what he's doing now is all the things he...
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bill clinton tried to find a way to balance it out. he was going to cut a lot of investment rates. that, that profumo was enough to help trigger an economic boom. what you hand out in of a tax increase, the president could give back, that would favor the investment community. it could work for him. lori: grover norquist, tea party two-point oh. neil: it is interesting. it is hard to read whether there will be held back to pay for anyone who votes for any type of a tax increase. i think we have learned from this election, you know, back in the a very suicidal pact. i do not know if that threat is real. what is more real right now, the result we have to get a permit spending under control, has disappeared. when it came to spending, that is still -- by the way, the same people who are picking apart the tea party, john boehner is where he is now and the house enjoys the republican party it does now because of the tea party. i would not be so quick to dismiss all. connell: you still think we are all just playing around it we will get a deal done? neil: i would worry a bad deal. i think
bill clinton tried to find a way to balance it out. he was going to cut a lot of investment rates. that, that profumo was enough to help trigger an economic boom. what you hand out in of a tax increase, the president could give back, that would favor the investment community. it could work for him. lori: grover norquist, tea party two-point oh. neil: it is interesting. it is hard to read whether there will be held back to pay for anyone who votes for any type of a tax increase. i think we have...